Ripple Struggles at $0.17 0verhead Resistance amidst Bullish Expectation

Since March 26, Ripple has been consolidating above the $0.17 overhead resistance despite breaking the resistance line of the descending channel. The bulls’ inability to move price upward is caused by the stiff resistance and defence by the bears at the $0.17 price level.

The current defence by the bears at the $0.17 resistance is responsible for the continued consolidation of Ripple. An upward move is possible in view of the breaking of the resistance line of the descending channel.

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